There were a total of 730 Salt Lake County homes sold in Jan 2012, which is the highest level seen for 5 years. Those homes that are selling are also selling faster, with the average number of days taken to sell a home falling to 133 days (last Jan it was 144 days). The average price for homes sold in Salt Lake County did drop to $206,869, but this drop is in part due to a drop in the average size of homes sold (more smaller home sales = lower average price), which was 2,341 sq. feet (down from 2,579). In fact if we look at the price per sq. foot, it acutally ticked up slightly from last month.
We are starting to see a change in the local market, with more multiple offer situations (especially in the more sort after areas like the Avenues), and good homes selling a lot faster. The actual supply of quality Salt Lake Utah Homes for Sale seems to be some what limited at the moment, partly due to the time of year, and people not wanting to get involved with long drawn out short sales.
Total Sales 730
Average Sale Price $206,869
Average Sq. Ft. 2,341
Price Per Sq. Feet $87
Days on Market 133
For more information on current market conditions please visit my Salt Lake Real Estate Blog.
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